Upskilling and retraining

Technological advances will create new job opportunities but will also displace some jobs, including occupations previously considered 'irreplaceable'. If the education system, and those in or entering the workforce, are not responsive to changing skill needs, there is a risk of higher unemployment, underemployment and lower earning prospects, which in turn are likely to reduce engagement in the labour market. Improving the employability of workers through upskilling and retraining is a necessary response to the combined effect of an ageing workforce and technological change. However,...  [+] Show more

Technological advances will create new job opportunities but will also displace some jobs, including occupations previously considered 'irreplaceable'. If the education system, and those in or entering the workforce, are not responsive to changing skill needs, there is a risk of higher unemployment, underemployment and lower earning prospects, which in turn are likely to reduce engagement in the labour market. Improving the employability of workers through upskilling and retraining is a necessary response to the combined effect of an ageing workforce and technological change. However, negative stereotypes and myths about older workers' abilities and their willingness to learn new skills create barriers to training opportunities. These need to be addressed if the economy is to benefit from their skills and experience through greater participation in the labour market. There are no easy ways of ensuring that the current workforce has the relevant skills, particularly given the uncertainty about the effect of technology on the usefulness of existing skills and occupations.

Excerpt from publication.